Impy: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Impy
Largest movements
- Stocks and contracts -€538,350
down €538,350 (-59.9%), from €898,576 to €360,226
of which Contracts in progress: -€536,536
- Cash -€102,995
down €102,995 (-28.4%), from €362,695 to €259,700
mainly Advances received (-€607,603) and Other debts (-€92,771)
- Current investments -€100,000
down €100,000 (-9.1%), from €1.1m to €1.0m
- Advances received -€607,603
no longer reported in 2025 (was €607,603)
- Other debts -€92,771
down €92,771 (-24.9%), from €372,123 to €279,352
- Gross operating margin -€204,884
down €204,884 (-69.4%), from €295,011 to €90,127
- Taxes -€68,592
down €68,592 (-82.4%), from €83,285 to €14,693
- Financial charges +€10,411
up €10,411 (+39.9%), from €26,090 to €36,501
- Financial income +€6,153
up €6,153 (+24.0%), from €25,592 to €31,746
- Other operating charges +€4,601
up €4,601 (+34.7%), from €13,257 to €17,858
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,978,344 | €2,230,902 | -€747,442 | -25.1% |
| Fixed assets | 21/28 | €580,952 | €575,537 | -€5,415 | -0.9% |
| Tangible fixed assets | 22/27 | €580,452 | €573,937 | -€6,515 | -1.1% |
| Land and buildings | 22 | €580,452 | €573,937 | -€6,515 | -1.1% |
| Financial fixed assets | 28 | €500 | €1,600 | +€1,100 | +220.0% |
| Current assets | 29/58 | €2,397,392 | €1,655,366 | -€742,027 | -31.0% |
| Stocks and contracts in progress | 3 | €898,576 | €360,226 | -€538,350 | -59.9% |
| Stocks | 30/36 | €235,564 | €233,750 | -€1,814 | -0.8% |
| Contracts in progress | 37 | €663,012 | €126,476 | -€536,536 | -80.9% |
| Amounts receivable within one year | 40/41 | €12,956 | €30,681 | +€17,726 | +136.8% |
| Trade receivables | 40 | €7,897 | €20,036 | +€12,139 | +153.7% |
| Other amounts receivable | 41 | €5,059 | €10,645 | +€5,587 | +110.4% |
| Current investments | 50/53 | €1,100,000 | €1,000,000 | -€100,000 | -9.1% |
| Cash at bank and in hand | 54/58 | €362,695 | €259,700 | -€102,995 | -28.4% |
| Deferred charges and accrued income | 490/1 | €23,166 | €4,758 | -€18,408 | -79.5% |
| Total equity and liabilities | 10/49 | €2,978,344 | €2,230,902 | -€747,442 | -25.1% |
| Equity | 10/15 | €1,946,799 | €1,932,048 | -€14,751 | -0.8% |
| Contributions | 10/11 | €620,000 | €620,000 | = | 0.0% |
| Capital | 10 | €620,000 | €620,000 | = | 0.0% |
| Issued capital | 100 | €620,000 | €620,000 | = | 0.0% |
| Reserves | 13 | €1,321,929 | €1,307,178 | -€14,751 | -1.1% |
| Non-distributable reserves | 130/1 | €62,000 | €62,000 | = | 0.0% |
| Legal reserve | 130 | €62,000 | €62,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €248 | €248 | = | 0.0% |
| Distributable reserves | 133 | €1,259,681 | €1,244,930 | -€14,751 | -1.2% |
| Profit (loss) carried forward | 14 | €4,870 | €4,870 | = | 0.0% |
| Amounts payable | 17/49 | €1,031,546 | €298,854 | -€732,691 | -71.0% |
| Amounts payable within one year | 42/48 | €1,026,407 | €298,722 | -€727,685 | -70.9% |
| Trade debts | 44 | €8,841 | €2,830 | -€6,011 | -68.0% |
| Suppliers | 440/4 | €8,841 | €2,830 | -€6,011 | -68.0% |
| Advances received on contracts in progress | 46 | €607,603 | - | -€607,603 | |
| Taxes, remuneration and social security | 45 | €37,840 | €16,540 | -€21,300 | -56.3% |
| Taxes | 450/3 | €37,840 | €16,540 | -€21,300 | -56.3% |
| Other amounts payable | 47/48 | €372,123 | €279,352 | -€92,771 | -24.9% |
| Accrued charges and deferred income | 492/3 | €5,138 | €132 | -€5,006 | -97.4% |
| Non-recurring operating income | 76A | €31,312 | - | -€31,312 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,990 | €22,906 | +€1,916 | +9.1% |
| Other operating charges | 640/8 | €13,257 | €17,858 | +€4,601 | +34.7% |
| Gross operating margin | 9900 | €295,011 | €90,127 | -€204,884 | -69.4% |
| Operating profit (loss) | 9901 | €260,764 | €49,363 | -€211,402 | -81.1% |
| Financial income | 75/76B | €25,592 | €31,746 | +€6,153 | +24.0% |
| Recurring financial income | 75 | €25,592 | €31,746 | +€6,153 | +24.0% |
| Financial charges | 65/66B | €26,090 | €36,501 | +€10,411 | +39.9% |
| Recurring financial charges | 65 | €26,090 | €36,501 | +€10,411 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €260,267 | €44,608 | -€215,659 | -82.9% |
| Income taxes | 67/77 | €83,285 | €14,693 | -€68,592 | -82.4% |
| Profit (loss) for the period | 9904 | €176,982 | €29,915 | -€147,067 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €176,982 | €29,915 | -€147,067 | -83.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.